Credo Technology's Co-Founder and CTO Sells Nearly $6.1 Million Worth of Shares
Chi Fung Lawrence Cheng, Chief Technology Officer at Credo Technology Group Holding Ltd (CRDO), sold nearly 27,500 shares worth approximately $6.1 million on July 21, 2026, as disclosed in an SEC Form 4 filing. The transaction was conducted under a Rule 10b5-1 trading plan established by the Cheng Huang Family Trust in September 2025 to manage liquidity and diversify holdings. Cheng retained significant ownership post-sale with approximately $1.34 billion worth of shares, both directly held (around 140,000) and indirectly through his family trust (~5.8 million). The sale represented less than 1% of his total stake in the company. Credo Technology is a high-speed connectivity solutions provider for Ethernet applications with strong financial performance including $1.3 billion revenue TTM and net income of $472.3 million. The stock had surged by over 100% year-to-date, reaching a 52-week high in June before the sale date. While the transaction was non-discretionary under pre-established rules, it may still raise questions among investors about insider sentiment and future performance expectations.
Tickers: $CRDO
Topics: Chi Fung Lawrence Cheng Credo Technology Group Holding Rule 10b5-1 trading plan